CFOs more risk averse
Like consumers and small business owners, corporate chief financial officers are feeling increasingly uncertain about the political and economic environment. The latest Deloitte quarterly CFO survey shows a pronounced fall in confidence.Forty-four per cent of CFOs said it was a good time to take greater risks on their balance sheets, compared with 55 per cent in the March quarter.The net percentage of CFOs who were optimistic about their company's prospects fell from 36 per cent in the March quarter to six per cent in the latest survey.Deloitte chief operating officer Keith Skinner said in a statement that business had hit a "speed bump.""Be it concerns over the implications of the Budget or uncertainty over the passage of the Budget measures through the Senate, Australian chief financial officers are definitely feeling the drag of political uncertainty," Skinner said.Despite these concerns, 80 per cent said they expected revenue to increase over the next 12 months.